34 8th Avenue, New York, NY 10014

Listing ID Number

25288

Property Description

Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 34 8th Avenue, 324 West 4th Street, and 326 West 4th Street. A combination of three properties on one lot, these properties are being offered for the first time in over 50 years. Located on the east side of 8th Avenue between Jane and West 12th Streets, the properties are block through to West 4th Street. 34 8th Avenue is a five-story, mixed-use elevator building with retail on the ground floor and 13 apartments above, two of which are studios, eight are one-bedrooms and three are two-bedrooms. Anfora, a stylish wine bar occupies the retail space through June of 2019. 324 West 4th Street is a four-story walk-up building that consists of four floor-through one-bedroom apartments. 326 West 4th Street is a recently renovated, two-story, owner-occupied townhouse configured as a one-bedroom, two bathroom unit. In total, the property offers 18 residential units and one retail space. The average in-place residential rent is approximately $64/SF, which is well below market for a West Village elevator building. This is an excellent value-add investment in one of the most exclusive neighborhoods in Manhattan.

Overview

Building Type:

Mixed-Use Investment Buildings

Location:

West Village

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The information contained herein has either been given to us by the owner of the
property or obtained from sources that we deem reliable. We have no reason to doubt
its accuracy but we do not guarantee it. All zoning, buildable footages and uses
must be independently verified. Vacancy factors used herein are an arbitrary percentage
used only as an example. It does not necessarily relate to actual vacancy, if any.
The value of this investment is dependent upon these estimates and assumptions made
above, as well as the investment income, the tax bracket, and other factors which
your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD
CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.